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Profile: Ligand Pharmaceuticals Inc (LGND.A)

LGND.A on American Stock Exchange

16 May 2019
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Ligand Pharmaceuticals Incorporated (Ligand), incorporated on September 28, 1987, is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work towards obtaining prescription drug approvals. As of December 31, 2016, it had partnerships and license agreements with over 85 pharmaceutical and biotechnology companies, and over 140 various programs under license with it were in various stages of commercialization and development. It has contributed research and technologies for approved medicines that treat cancer, osteoporosis, fungal infections and low blood platelets, among others. Its partners have programs in clinical development targeting seizure, coma, cancer, diabetes, cardiovascular disease, muscle wasting, liver disease and kidney disease, among others. The Company is developing a small molecule glucagon receptor antagonist for the treatment of Type II diabetes mellitus.

The Company's technologies include Captisol Technology, OmniAb Technologies (OMT), Liver-targeted prodrug (LTP) Technology Platform and SUREtechnology Platform (owned by Selexis, SA (Selexis)). Its Captisol is a cyclodextrin that is designed to maximize safety, while improving the solubility, stability and bioavailability of active pharmaceutical ingredients (APIs). Its OmniAb includes three platforms, including OmniRat, OmniMouse and OmniFlic. The OmniAb platforms consist of genetically-engineered transgenic rodents that produce a diversified repertoire of antibodies and enable fully-human antibody drug discovery and development by its OmniAb partners. The LTP Technology platform is a prodrug technology designed to selectively deliver a range of pharmaceutical agents to the liver. The SUREtechnology Platform, developed and owned by Selexis, is a technology that improves the way that cells are utilized in the development and manufacturing of recombinant proteins and drugs.

Commercial Programs

The Company has multiple partnered programs in its portfolio that have products that are already being commercialized, including Kyprolis (Amgen) Duavee or Duavive (bazedoxifene/conjugated estrogens) and Viviant/Conbriza (Pfizer), Nexterone (Baxter), Noxafil-IV (Merck), Exemptia (Zydus Cadila) and Vivitra (Zydus Cadila). Kyprolis is formulated with Ligand's Captisol technology and in combination with dexamethasone or with lenalidomide plus dexamethasone is used for the treatment of multiple myeloma patients receiving one to three lines of therapy. Kyprolis as a single agent is used for the treatment of patients with relapsed or refractory multiple myeloma receiving one or more lines of therapy. Pfizer is marketing bazedoxifene under the brand names of Viviant and Conbriza in various territories for the treatment of postmenopausal osteoporosis. The Company has a license agreement with Baxter, related to Baxter's Nexterone, a Captisol-enabled formulation of amiodarone, which is marketed in the United States and Canada. It has a supply agreement with Merck related to Merck's NOXAFIL-IV, a Captisol-enabled formulation of posaconazole for IV use. NOXAFIL-IV is marketed in the United States, European Union (EU) and Canada.

Development-stage Programs

The Company's development-stage programs include Baxdela (Melinta), Brexanolone-SAGE-547 (SAGE), Sparsentan (Retrophin), Prexasertib- LY2606368 (Eli Lilly), CXL-1427 - BMS986231 (Cardioxyl /BMS), Lasofoxifene (Azure Biotech, and Sermonix), Verubecestat-MK-8931 (Merck), TR-Beta - VK2809 (Viking), Selective Androgen Receptor Modulator (SARM)-VK5211 (Viking), Merestinib- LY2801653 (Eli Lilly), Pevonedistat - MLN-4924 (Millennium/Takeda), Motolimod-VTX-2337 (VentiRx Pharmaceuticals/Celgene), Seribantumab-MM-121 (Merrimack Pharmaceuticals), CHS-0214 (Coherus Biosciences), AM0010+PD-1 (ARMO Biosciences), ADX-102 (Aldeyra), Esaxerenone (Exelixis) and TAK-020 (Takeda). The Company supplies Captisol to Spectrum for use with Evomela, which is a Captisol-enabled melphalan IV formulation. Its partner, SAGE, is conducting a Phase III clinical trial for the development of Captisol-enabled therapeutics for a range of debilitating central nervous system conditions. Its partner, Retrophin, is developing sparsentan for orphan indications of severe kidney diseases, and has completed a Phase II clinical trial of sparsentan for the treatment of FSGS.

The Company's partner, Eli Lilly is conducting Phase II clinical trials for Captisol-enabled LY2606368 (Chk 1/2 inhibitor) for solid tumors. Its partner, Cardioxyl (acquired by BMS in 2015) is conducting Phase II clinical trials for Captisol-enabled CXL-1427 (nitroxyl donor prodrug) for ADHF. Its partner Azure is developing a formulation of lasofoxifene targeting an underserved market in women's health. Its partner, Merck is developing Verubecestat (MK-8931), a BACE inhibitor for the treatment of Alzheimer's disease. Its partner Viking is developing VK5211, a SARM for patients recovering from hip-fracture. Its partner, Eli Lilly is conducting Phase II clinical trials for Captisol-enabled merestinib (LY2801653) for treatment of cancer. Its partner, Millennium/Takeda is conducting Phase II trials for the development of pevonedistat (MLN-4924) for the treatment of hematological malignancies and solid tumors. Its partner, VentiRx is conducting Phase II trials for the development of motolimod for the treatment of ovarian cancer and head and neck cancer. Motolimod is a Captisol-enabled Toll-like Receptor 8 agonist. Its partner, Aldeyra, is conducting a phase II study for ADX-102 for the treatment of ocular inflammation.

The Company competes with VelocImmune mouse, the AlivaMab mouse, the Trianni mouse and the Kymouse.

Company Address

Ligand Pharmaceuticals Inc

3911 Sorrento Valley Blvd Ste 11
SAN DIEGO   CA   92121-1402
P: +1858.5507500
F: +1302.6365454

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